Insurance, Retail Groups Urge Congress to Create COVID-19 Business Recovery Fund

WASHINGTON, D.C. — The Reinsurance Association of America and various other trade organizations are urging federal lawmakers to support the COVID-19 Business and Employee Continuity and Recovery Fund, which they say would help distribute federal funds to businesses and their employees impacted by the pandemic.

In a March 31 letter to President Trump and Congressional leadership, the trade groups argue that “without broad-based and expeditious federal action, long-term damage to the financial markets, rampant unemployment, and irreparable harm to communities are almost certain.”

“Government mandates that have been put in place to stem the spread of COVID-19 such as …